Devenez Insider

Metavers: the teenage crisis

Wednesday, December 21, 2022

Heralded as THE next great revolution, metavers are far from having won everyone over. Users are still few and far between, and its uses still seem fairly limited, leading some to say that it has... no future. But is this really the case? We investigated 🔎

Sébastien Borget is a big fan of Twitter. The boss of The Sandbox posts short videos there almost every day in which we see him and his avatar wandering around the metaverse he co-founded.

One minute, the Frenchman is at a concert. Another, he's jumping from building to building or walking through a shop... Each video is different, except that he's always quite alone. There are, at best, a handful of other avatars in his company 🙃

It's a fact, metavers like The Sandbox (owned by Animoca Brands), Decentraland or Axie Infinity are relatively little used.

One figure speaks for itself: according to DappRadar, there are on average fewer than 1,000 daily users on Decentraland and The Sandbox. A particularly low figure, especially when you consider the valuation of these companies. Based on its latest fundraising, The Sandbox is worth more than $3 billion!

This huge contrast has led some to say that these new virtual "eldorados" are just bubbles, and have no future.

But is this really the case? 🤔

As usual, things are (much) more complicated. We surveyed platforms, users, investors and businesses!

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This analysis is not investment advice. It has been prepared without taking into account your personal situation, particularly your financial situation, risk profile, and investment objectives.

Before investing in any product, investors should fully understand the risks involved and consult their own legal, tax, financial, and accounting advisors.

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